Veris Gold Corp. announces closing of offering

VANCOUVER, Aug. 16, 2013 /PRNewswire/ - Veris Gold Corp. ("Veris" or the "Company") (TSX: VG) (OTCQB: YNGFF)
(Frankfurt Xetra Exchange: NG6A) is pleased to announce it has closed its previously announced offering
(the "Offering") of units (the "Units") and flow-through units (the "Flow-Through Units") for aggregate gross proceeds of approximately $8 million.

The Company issued 8,448,382 Units at a price of Cdn$0.52, with each
Unit comprised of one common share of the Company (a "Unit Share") and one half of one common share purchase warrant (each whole
warrant, a "Unit Warrant"). Each Unit Warrant has an exercise price of Cdn$0.60 and entitles the
holder thereof to acquire one common share of the Company for a period
of thirty-six (36) months following the closing of the Offering.

The Company also issued 5,813,100 Flow-Through Units only in Canada at a
price of Cdn$0.55, with each Flow-Through Unit comprised of one common
share of the Company which qualifies as a "flow-through share" within
the meaning of the Income Tax Act (Canada) (the "Flow-Through Shares") and one half of one common share purchase warrant (each whole
warrant, an "FT Unit Warrant"). Each whole FT Unit Warrant has an exercise price of Cdn$0.65 and
entitles the holder thereof to acquire one common share of the Company
for a period of thirty-six (36) months following the closing of the
Offering.

The Offering was conducted on a best efforts agency basis pursuant to an
agency agreement dated August 9, 2013 (the "Agency Agreement") among the Company and a syndicate of agents (collectively, the "Agents") led by Secutor Capital Management Corporation and including Global
Hunter Securities, LLC. Pursuant to the terms of the Agency Agreement,
the Company granted the Agents an over-allotment option to purchase up
to 900,980 additional Units and up to 581,310 additional Flow-Through
Units, to cover over-allocations, if any, and for market stabilization
purposes, such over-allotment option exercisable for a period of
30-days from the closing of the Offering. By notice delivered to the
Company, the Agents exercised the over-allotment option in-part for the
issuance of an additional 580,210 Flow-Through Units at the closing of
the Offering. The Agents subsequently issued notice of exercise of the
remainder of the over-allotment option for the issuance of an
additional 900,980 Units, the closing of which is expected to take
place on August 20, 2013.

The Company intends to use the net proceeds of the Offering to complete
the refurbishment of its Jerritt Canyon mill operations, to complete
the development of the underground mine facilities at the Saval 4 Gold
Mine, fund bonding related to future reclamation obligations, ensure
that debt payments are met and for general working capital purposes.
Proceeds from the Flow-Through Units will be used for the funding of
exploration activities at the Company's Ketza River property.

The Offering was completed pursuant to a prospectus supplement dated
August 9, 2013 to the short form base shelf prospectus dated October
31, 2012 that the Company has filed with the security regulatory
authorities in each of the provinces of British Columbia, Alberta and
Ontario (the "Canadian Securities Authorities") and a registration statement on Form F-10 (No. 333-184496), as
amended or supplemented, that the Company has filed with the Securities
and Exchange Commission (the "SEC"), both of which are effective. Any offer or sale under the
over-allotment option will be made only by means of a U.S. prospectus
supplement or a Canadian prospectus supplement filed with SEC and the
Canadian Securities Authorities. A U.S. prospectus supplement and a
Canadian prospectus supplement containing important information
relating to these securities has been filed with the SEC and the
Canadian Securities Authorities, respectively.

Copies of the prospectus supplements and the accompanying base shelf
prospectus relating to these securities are available at www.sedar.com and www.sec.gov or by directing a request in the United States to Global Hunter
Securities LLC at777 Third Avenue, 36th Floor, New York, NY, 10017 and outside the United
States to Secutor Capital Management Corporation at 1167 Caledonia
Road, Toronto, Ontario, M6A 2X1, phone (416) 545-1015, email: pgraham@secutor.ca, Attention: Peter Graham.

About Veris Gold Corp.Veris Gold Corp. is a growing mid-tier North American gold producer in
the business of developing and operating gold mines in geo-politically
stable jurisdictions. The Company's primary assets are the permitted
and operating Jerritt Canyon mill and gold mines located 50 miles north
of Elko, Nevada, USA. The Company's primary focus is on the
re-development of the Jerritt Canyon mining and milling facility. The
Company also holds a portfolio of precious metals properties in British
Columbia and the Yukon Territory, Canada, including the former
producing Ketza River mine.

The TSX has not reviewed and does not accept responsibility for the
adequacy or accuracy of this release. All material information may be
accessed at www.sedar.com.

Forward-Looking Statements This press release contains "forward-looking statements" and "forward
looking information" within the meaning of applicable securities laws.
All statements, other than statements of historical fact, including
without limitation, statements relating to plans for or intentions with
respect to the offering of Securities and the Company's use of proceeds
from the sale of the Units and Flow-Through Units are forward-looking
statements. Generally, these forward-looking statements can be
identified by the use of forward-looking terminology such as "plans",
"expects" or "does not expect", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or "does not
anticipate", or "believes", or variations of such words and phrases or
state that certain actions, events or results "may", "could", "would",
"might" or "will be taken", "occur" or "be achieved". By their nature,
forward-looking statements and information are based on assumptions and
involve known and unknown risks, uncertainties and other factors that
may cause our actual results, performance or achievements, or industry
results, to be materially different from future results, performance or
achievements expressed or implied by such forward-looking information.
Such risks, uncertainties and other factors include among other things
the following: the Company's ability to engage underwriters, dealers or
agents on terms and conditions deemed reasonable by the Company; the
need to satisfy regulatory and legal requirements with respect to any
offerings; gold price volatility; discrepancies between actual and
estimated production and mineral reserves and resources; the
speculative nature of gold exploration; mining operational and
development risk; and regulatory risks. See our Annual Information Form
for additional information on risks, uncertainties and other related
factors. Although the Company has attempted to identify important
factors that could cause actual results to differ materially from those
contained in forward-looking statements, there may be other factors
that cause results not to be as anticipated, estimated or intended.
There can be no assurance that such statements will prove to be
accurate, as actual results and future events could differ materially
from those anticipated in such statements. Accordingly, readers should
not place undue reliance on forward-looking statements. The Company
does not undertake to update any forward-looking statements that are
incorporated by reference herein, except in accordance with applicable
securities laws.